Binder Jetting Services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

The binder jetting services market is on a swift growth trajectory, poised to become a significant player in the additive manufacturing sector. With a valuation of $125.61 million in 2024, the market is anticipated to escalate to $406.22 million by 2031, driven by a robust compound annual growth rate (CAGR) of 18.3%. Binder jetting, with its diverse applications and customization potential, is transforming industries by providing innovative and efficient manufacturing solutions.

Understanding Binder Jetting

Binder jetting is an additive manufacturing process where a binding agent is selectively deposited onto a powder bed, bonding the powder particles to create solid parts layer by layer. Materials commonly used in this technology include metals, sand, and ceramics. Binder jetting finds applications in producing full-color prototypes, large sand casting cores and molds, and cost-effective 3D printed metal parts.

Driving Factors for Market Growth

The versatility of binder jetting technology is a primary driver of its growth. It is extensively used to produce full-color prototypes, essential for visualization and design validation. Moreover, binder jetting plays a crucial role in creating large sand casting cores and molds, enabling complex casting processes. The technology is also instrumental in manufacturing low-cost 3D printed metal parts, making it valuable across various industries.

Impact of Digitalization

The proliferation of Internet of Things (IoT)-enabled devices, advancements in Artificial Intelligence (AI), cloud-based services, and web 3.0 are propelling digital transformation across industries. Companies are developing technologies like binder jetting to meet evolving consumer demands and data trends. This digital shift is challenging traditional supply chain models and fostering new customer-supplier relationships, driven by the Internet and social media. Binder jetting is at the forefront of this transformation, enabling businesses to integrate intuitive web-based interfaces and 3D technologies, promoting real-time and agile manufacturing.

Regional Market Insights

The binder jetting services market is experiencing substantial regional growth, with North America leading the market. The demand in this region is fueled by advanced technological infrastructure and a strong presence of key industry players. Europe is also witnessing significant growth, particularly in Germany, which is heavily investing in advanced medical technology.

Challenges and Opportunities

Despite its numerous benefits, binder jetting faces challenges, especially in terms of speed and cost. The manufacturing process takes more time compared to traditional methods, and the costs can be prohibitive for some users. Additionally, the size of components is constrained by the machine's build platform, which varies between printers. However, ongoing innovations and strategic collaborations are addressing these challenges, paving the way for wider adoption of binder jetting services.

Key Industry Developments

Recent developments in the binder jetting market underscore the industry's dynamic nature. For example, in May 2022, Swedish manufacturer Digital Metal unveiled the DMP/PRO, a new metal binder jetting machine focusing on efficiency and precision. Additionally, Roland DG Company initiated a joint venture in China to manufacture ceramic binder jets and supplies, aiming to broaden the technology's application in the region.

Sector-Specific Insights

The electronics industry is experiencing a surge in binder jetting services due to increased consumer purchasing power. Binder jetting enhances the strength and durability of products like smartphones and computers. In China, the digitization wave and IoT adoption are boosting demand for binder jetting services. Furthermore, the launch of Industry 4.0 is expected to drive market growth further.

Automotive and Medical Device Applications

The automotive sector is utilizing binder jetting for customization and serial part production, allowing the creation of custom parts tailored to specific customer preferences. In Europe, the medical device industry benefits from the precision and durability of binder jetting, with Germany leading the market due to government initiatives supporting medical technology advancements.

Competitive Analysis

The binder jetting services market is characterized by strategic partnerships, mergers and acquisitions, and product innovations. Key players are expanding their portfolios and enhancing their market presence through collaborations. For instance, in December 2021, Desktop Metal announced plans to use its new binder jetting technology for mass production of metal vehicle engine parts. Similarly, in October 2022, GE Additive launched its Series 3 binder jetting platform, designed for industrial-scale metal part production.

Market Segmentation

By Application:

Prototypes
Tools & Fixtures
Production Parts

By Industry:

Automotive
Healthcare & Medical Devices
Aerospace & Aeronautics
Consumer Goods
Heavy Equipment
Oil & Gas
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa (MEA)

1. Executive Summary

1.1. Global Binder Jetting Services Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2023
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global Binder Jetting Services Market Outlook, 2019 - 2031

3.1. Global Binder Jetting Services Market Outlook, by Application, Value (US$ Mn), 2019 - 2031
- 3.1.1. Key Highlights
  - 3.1.1.1. Prototypes
  - 3.1.1.2. Tools & Fixtures
  - 3.1.1.3. Production Parts
3.2. Global Binder Jetting Services Market Outlook, by Industry, Value (US$ Mn), 2019 - 2031
- 3.2.1. Key Highlights
  - 3.2.1.1. Automotive
  - 3.2.1.2. Healthcare & Medical Devices
  - 3.2.1.3. Aerospace & Aeronautics
  - 3.2.1.4. Consumer Goods
  - 3.2.1.5. Heavy Equipment
  - 3.2.1.6. Oil & Gas
  - 3.2.1.7. Others
3.3. Global Binder Jetting Services Market Outlook, by Region, Value (US$ Mn), 2019 - 2031
- 3.3.1. Key Highlights
  - 3.3.1.1. North America
  - 3.3.1.2. Europe
  - 3.3.1.3. Asia Pacific
  - 3.3.1.4. Latin America
  - 3.3.1.5. Middle East & Africa

4. North America Binder Jetting Services Market Outlook, 2019 - 2031

4.1. North America Binder Jetting Services Market Outlook, by Application, Value (US$ Mn), 2019 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Prototypes
  - 4.1.1.2. Tools & Fixtures
  - 4.1.1.3. Production Parts
4.2. North America Binder Jetting Services Market Outlook, by Industry, Value (US$ Mn), 2019 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Automotive
  - 4.2.1.2. Healthcare & Medical Devices
  - 4.2.1.3. Aerospace & Aeronautics
  - 4.2.1.4. Consumer Goods
  - 4.2.1.5. Heavy Equipment
  - 4.2.1.6. Oil & Gas
  - 4.2.1.7. Others
- 4.2.2. BPS Analysis/Market Attractiveness Analysis
4.3. North America Binder Jetting Services Market Outlook, by Country, Value (US$ Mn), 2019 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. U.S. Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 4.3.1.2. U.S. Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
  - 4.3.1.3. Canada Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 4.3.1.4. Canada Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
- 4.3.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Binder Jetting Services Market Outlook, 2019 - 2031

5.1. Europe Binder Jetting Services Market Outlook, by Application, Value (US$ Mn), 2019 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Prototypes
  - 5.1.1.2. Tools & Fixtures
  - 5.1.1.3. Production Parts
5.2. Europe Binder Jetting Services Market Outlook, by Industry, Value (US$ Mn), 2019 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Automotive
  - 5.2.1.2. Healthcare & Medical Devices
  - 5.2.1.3. Aerospace & Aeronautics
  - 5.2.1.4. Consumer Goods
  - 5.2.1.5. Heavy Equipment
  - 5.2.1.6. Oil & Gas
  - 5.2.1.7. Others
- 5.2.2. BPS Analysis/Market Attractiveness Analysis
5.3. Europe Binder Jetting Services Market Outlook, by Country, Value (US$ Mn), 2019 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. Germany Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 5.3.1.2. Germany Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
  - 5.3.1.3. U.K. Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 5.3.1.4. U.K. Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
  - 5.3.1.5. France Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 5.3.1.6. France Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
  - 5.3.1.7. Italy Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 5.3.1.8. Italy Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
  - 5.3.1.9. Turkey Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 5.3.1.10. Turkey Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
  - 5.3.1.11. Russia Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 5.3.1.12. Russia Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
  - 5.3.1.13. Rest of Europe Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 5.3.1.14. Rest of Europe Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
- 5.3.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Binder Jetting Services Market Outlook, 2019 - 2031

6.1. Asia Pacific Binder Jetting Services Market Outlook, by Application, Value (US$ Mn), 2019 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Prototypes
  - 6.1.1.2. Tools & Fixtures
  - 6.1.1.3. Production Parts
6.2. Asia Pacific Binder Jetting Services Market Outlook, by Industry, Value (US$ Mn), 2019 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Automotive
  - 6.2.1.2. Healthcare & Medical Devices
  - 6.2.1.3. Aerospace & Aeronautics
  - 6.2.1.4. Consumer Goods
  - 6.2.1.5. Heavy Equipment
  - 6.2.1.6. Oil & Gas
  - 6.2.1.7. Others
- 6.2.2. Others BPS Analysis/Market Attractiveness Analysis
6.3. Asia Pacific Binder Jetting Services Market Outlook, by Country, Value (US$ Mn), 2019 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. China Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 6.3.1.2. China Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
  - 6.3.1.3. Japan Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 6.3.1.4. Japan Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
  - 6.3.1.5. South Korea Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 6.3.1.6. South Korea Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
  - 6.3.1.7. India Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 6.3.1.8. India Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
  - 6.3.1.9. Southeast Asia Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 6.3.1.10. Southeast Asia Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
  - 6.3.1.11. Rest of Asia Pacific Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 6.3.1.12. Rest of Asia Pacific Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Binder Jetting Services Market Outlook, 2019 - 2031

7.1. Latin America Binder Jetting Services Market Outlook, by Application, Value (US$ Mn), 2019 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Prototypes
  - 7.1.1.2. Tools & Fixtures
  - 7.1.1.3. Production Parts
7.2. Latin America Binder Jetting Services Market Outlook, by Industry, Value (US$ Mn), 2019 - 2031
- 7.2.1. Key Highlights
  - 7.2.1.1. Automotive
  - 7.2.1.2. Healthcare & Medical Devices
  - 7.2.1.3. Aerospace & Aeronautics
  - 7.2.1.4. Consumer Goods
  - 7.2.1.5. Heavy Equipment
  - 7.2.1.6. Oil & Gas
  - 7.2.1.7. Others
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Latin America Binder Jetting Services Market Outlook, by Country, Value (US$ Mn), 2019 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Brazil Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 7.3.1.2. Brazil Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
  - 7.3.1.3. Mexico Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 7.3.1.4. Mexico Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
  - 7.3.1.5. Argentina Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 7.3.1.6. Argentina Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
  - 7.3.1.7. Rest of Latin America Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 7.3.1.8. Rest of Latin America Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Binder Jetting Services Market Outlook, 2019 - 2031

8.1. Middle East & Africa Binder Jetting Services Market Outlook, by Application, Value (US$ Mn), 2019 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Prototypes
  - 8.1.1.2. Tools & Fixtures
  - 8.1.1.3. Production Parts
8.2. Middle East & Africa Binder Jetting Services Market Outlook, by Industry, Value (US$ Mn), 2019 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Automotive
  - 8.2.1.2. Healthcare & Medical Devices
  - 8.2.1.3. Aerospace & Aeronautics
  - 8.2.1.4. Consumer Goods
  - 8.2.1.5. Heavy Equipment
  - 8.2.1.6. Oil & Gas
  - 8.2.1.7. Others
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Middle East & Africa Binder Jetting Services Market Outlook, by Country, Value (US$ Mn), 2019 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. GCC Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 8.3.1.2. GCC Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
  - 8.3.1.3. South Africa Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 8.3.1.4. South Africa Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
  - 8.3.1.5. Egypt Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 8.3.1.6. Egypt Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
  - 8.3.1.7. Nigeria Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 8.3.1.8. Nigeria Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
  - 8.3.1.9. Rest of Middle East & Africa Binder Jetting Services Market by Application, Value (US$ Mn), 2019 - 2031
  - 8.3.1.10. Rest of Middle East & Africa Binder Jetting Services Market by Industry, Value (US$ Mn), 2019 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Application vs Industry Heatmap
9.2. Company Market Share Analysis, 2023
9.3. Competitive Dashboard
9.4. Company Profiles
- 9.4.1. ExOne
  - 9.4.1.1. Company Overview
  - 9.4.1.2. Product Portfolio
  - 9.4.1.3. Financial Overview
  - 9.4.1.4. Business Strategies and Development
- 9.4.2. Proto3000 Inc.
  - 9.4.2.1. Company Overview
  - 9.4.2.2. Product Portfolio
  - 9.4.2.3. Financial Overview
  - 9.4.2.4. Business Strategies and Development
- 9.4.3. Voxeljet AG
  - 9.4.3.1. Company Overview
  - 9.4.3.2. Product Portfolio
  - 9.4.3.3. Financial Overview
  - 9.4.3.4. Business Strategies and Development
- 9.4.4. 3D Systems, Inc.
  - 9.4.4.1. Company Overview
  - 9.4.4.2. Product Portfolio
  - 9.4.4.3. Financial Overview
  - 9.4.4.4. Business Strategies and Development
- 9.4.5. Stratasys Ltd
  - 9.4.5.1. Company Overview
  - 9.4.5.2. Product Portfolio
  - 9.4.5.3. Financial Overview
  - 9.4.5.4. Business Strategies and Development
- 9.4.6. Renishaw plc.
  - 9.4.6.1. Company Overview
  - 9.4.6.2. Product Portfolio
  - 9.4.6.3. Financial Overview
  - 9.4.6.4. Business Strategies and Development
- 9.4.7. Proto Labs
  - 9.4.7.1. Company Overview
  - 9.4.7.2. Product Portfolio
  - 9.4.7.3. Financial Overview
  - 9.4.7.4. Business Strategies and Development
- 9.4.8. HP Development Company, L.P.
  - 9.4.8.1. Company Overview
  - 9.4.8.2. Product Portfolio
  - 9.4.8.3. Financial Overview
  - 9.4.8.4. Business Strategies and Development
- 9.4.9. Xometry
  - 9.4.9.1. Company Overview
  - 9.4.9.2. Product Portfolio
  - 9.4.9.3. Financial Overview
  - 9.4.9.4. Business Strategies and Development
- 9.4.10. Materialise
  - 9.4.10.1. Company Overview
  - 9.4.10.2. Product Portfolio
  - 9.4.10.3. Financial Overview
  - 9.4.10.4. Business Strategies and Development
- 9.4.11. Sculpteo
  - 9.4.11.1. Company Overview
  - 9.4.11.2. Product Portfolio
  - 9.4.11.3. Financial Overview
  - 9.4.11.4. Business Strategies and Development
- 9.4.12. MicroJet Technology Co, Ltd.
  - 9.4.12.1. Company Overview
  - 9.4.12.2. Product Portfolio
  - 9.4.12.3. Financial Overview
  - 9.4.12.4. Business Strategies and Development

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations